... reason forthe lack of information is simply the lack of any services in a large number of countries There are other reasons forthe difficulties encountered in collecting information forthe present ... Regional Of ce They have contributed to planning the project, obtaining and validating the information from Member States and reviewing the results In the course ofthe project a number of colleagues ... The designations employed and the presentation ofthe material in this publication not imply the expression of any opinion whatsoever on the part ofthe World Health Organization concerning the...
... reason forthe lack of information is simply the lack of any services in a large number of countries There are other reasons forthe difficulties encountered in collecting information forthe present ... Regional Of ce They have contributed to planning the project, obtaining and validating the information from Member States and reviewing the results In the course ofthe project a number of colleagues ... The designations employed and the presentation ofthe material in this publication not imply the expression of any opinion whatsoever on the part ofthe World Health Organization concerning the...
... this, the opposite end ofthe spectrum was assessed by combining the five worst-case outcomes in the rightmost column ofthe matrix The synthesis of these five “bad” slopes ofthefuture led to the ... reading of our signposts Therefore, at the beginning ofthe 15-year acquisition cycle forthe 2025 era, the alternative futures method will clarify the Army’s roadmap ofthefuture considerably, ... information revolution and the rise ofthe Internet However, the current levels of diffusion ofpower are not large enough to threaten the viability of large numbers of nationstates The type of...
... article as: Takata et al.: The current shortage and future surplus of doctors: a projection ofthefuturegrowthofthe Japanese medical workforce Human Resources for Health 2011 9:14 Competing ... with the projected decrease of Japan’s total population, will result in a serious doctor surplus in Japan The purpose of this study is to project thefuturegrowthofthe Japanese medical workforce ... supply offor medical Predictions: Future supply of doctors stratified by sex and age Figure Most students who enroll in medical school graduate; therefore, the number of graduates taking the national...
... motion ofthe trunk was removed from motion ofthe head to determine the motion ofthe head with respect to the trunk Motion ofthe shank was removed from motion ofthe trunk to reveal motion ofthe ... between the two linked users of this system The haptic device serves two purposes (1) to feedback the forces from the patient's limb to the therapist and (2) to feed the forces that the therapist ... coordinates in space The combination results in DOF forthe location information (InterSense, Inc) Other systems use cameras to track the person and then transform this information to the 6-DOF needed to...
... sites forthe selective area growthof GaN NCs Once the process window forthe ordered growthof GaN NCs by PA-MBE was identified, the successful selective growth was driven by the morphology ofthe ... and to the finite dimensions ofthe AFM tip In 50% ofthe cases, neither SEM nor AFM analysis ofthe patterned mask showed any surface contamination before thegrowth However, from thegrowth ... the fundamental importance ofthe nanopatterning process, no detailed information has been reported neither on the choice ofthe particular nanopatterning technique nor on the importance of the...
... etc A future is the obligation to buy or sell the respective underlying at a certain time in thefuturefor a certain price In the case ofthe buyer, an ‘option’ is the right, but not the obligation, ... holds the security and performs the transfer ofthe title from the seller to the buyer Refer to Chapter for other possible settlement institutions Another comingling Clearing Services for Global ... studies from the real world The findings provide an objective body of knowledge that forms the basis for substantiated recommendations forthefuture development ofthe clearing industry With this...
... builds on the findings ofthe previous chapters and consists of four matrices These provide the foundation for an assessment ofthe impact of various network strategies on efficiency The matrices ... An overview ofthe structural set-up ofthe European and US clearing industries follows Chapter defines the two core issues of research: the efficiency of clearing and the structure ofthe clearing ... analysis ofthe current state ofthe clearing industry, set the stage forthe following analytical objectives: (i) Examine the efficiency of clearing: r develop a method to assess the efficiency of CCP...
... study Forthe purpose of this study, the indicator for quantifying back -of ce costs is personnel costs; an estimation ofthe average error account is not part ofthe study 3.3 Network strategies There ... strategy The purpose of this study is to determine the efficiency impact of these various network strategies Due to the lack of existing research on the issues of efficiency of clearing and network strategies, ... reduce the complexity of back -of ce processes Due to the complexity of measuring and quantifying the savings from the reductions in back -of ce costs, these savings are not analysed in the context of...
... provision of a quantitative overview ofthe frequency of occurrence of certain codes Forthe purpose of this study, this overview is provided in the form of bar graphs These graphs illustrate, for ... defined based on the structure ofthe interview guide and the research questions of this study The categories and category values are then used as the basis forthe process of coding the interviews ... representative sample ofthe first level ofthe European VPN The list of clearing members is publicly available on the European clearing houses’ websites Forthe purpose of this study, the focus was put...
... knowledge of all of these costs The figure forthe magnitude of back -of ce costs does not incorporate the above-mentioned factors and thus constitutes an underestimate To summarise, the estimate of total ... understanding of both cost levels to comprehend truly the full impact that network strategies can have on the efficiency of clearing and the structure ofthe VPN This section therefore briefly relays the ... cents forthe hedge in index options Lastly, CC&G charges €1.56 for clearing services 70 71 72 This helps to provide first evidence ofthe existence of economies of scale on the part ofthe clearing...
... of its in-house system with the CCP system Whereas the product layer ofthe CCP network corresponds to the open interest held by the CCP, the product layer ofthe GCM network merely mirrors the ... for example, results in a doubling ofthe number of contracts traded, but at the same time also to a bisection ofthe contract value Therefore, the value ofthe contracts traded ultimately remains ... causes of supply-side scale effects The analysis is expected to illuminate the potential for economies of scale and scope in clearing and provide the basis forthe analysis ofthe impact of network...
... one ofthe value propositions of their business model The job ofthe broker is to make order out ofthe chaos of different clearing systems and different methodologies forthe customer To the ... the European clearing industry can be assumed to be contestable The second step ofthe analysis ofthe impact of network strategies on the efficiency of clearing comes next: Chapter compares the ... per cent ofthe volumes currently processed by its former peers, now the world’s premier CCPs The reason forthe precipitous decline in the number of cleared contracts was the result of two developments:...
... apply to the size and open interest effect Since the launch ofthe EU Link, members ofthe ECAG network have benefited from the growing number of products cleared through the CCP; for some of these, ... studies of network strategies r The starting problem for these clearers will only be overcome and the utility derived from the link can only offset the costs of alternation in the long run when the ... sizes The GCL had an asymmetric impact on each ofthe partnering CCPs’ network size The implementation of Phase I ofthe link increased the size of ECAG’s network, which then resembled the aggregate...
... unless they have a substantial say in the governance ofthe clearing house and can influence the rules of clearing This is the only way for them to circumvent the risk of disintermediation and the ... user-controlled; otherwise, there is no way for them to influence the rules of clearing to restrict the level of access to the CCP network In the context of clearing link initiatives, restricting access to the ... to analyse their customers’ usage patterns in detail The clearing link strategy for Europe should be formulated on the basis of these findings Forthe purpose of identifying the value of any particular...
... an agency focus The study also had to consider the particularities ofthe current structure ofthe European VPN First, while there are a number of CCPs, two of them dominate the European market: ... Directors, FIA), former General Counsel (CFTC), former Chairman (Association ofthe Bar ofthe City of New York’s Committee on Futures Regulation), former Member (The Group of Thirty Derivatives ... with the final conclusions of this study The findings of this study thus not necessarily reflect the views ofthe individuals interviewed in the context of this study Any proposition that is forwarded...
... snapshot of that particular date r Particularly in the case of equity options/futures, the number of necessary contracts varies depending on the value ofthe underlying Forthe purpose ofthe equity ... requested to facilitate the tracking ofthe questionnaires The questionnaire will be made anonymous forthe statistical analysis and the publication For details regarding the anonymity and non-disclosure, ... on information provided by Eurex Clearing, which was extended and adapted with the help ofthe interviewees, the European market share for each ofthe six benchmark clearers was estimated Their...
... sites forthe selective area growthof GaN NCs Once the process window forthe ordered growthof GaN NCs by PA-MBE was identified, the successful selective growth was driven by the morphology ofthe ... and to the finite dimensions ofthe AFM tip In 50% ofthe cases, neither SEM nor AFM analysis ofthe patterned mask showed any surface contamination before thegrowth However, from thegrowth ... surface into the holes due to either the deposited material or bumps that act as diffusion barriers For this reason, the NCs nucleate at the perimeter ofthe donut-shaped bumps The presence of accumulated...
... Services for Global Markets of a financial market.170 The effectiveness of a CCP’s risk management and sufficient levels of financial resources are therefore crucial forthe stability ofthe markets, ... as CCPs forthe securities markets there This is due to the relatively low volume and value ofthe transactions.239 The introduction ofthe euro as well as the integration and expansion of European ... account for over 70 per cent ofthe market share) Furthermore, of these seventeen high volume clearers, the nine largest account for roughly 50 per cent ofthe European cleared market share These...
... study Forthe purpose of this study, the indicator for quantifying back -of ce costs is personnel costs; an estimation ofthe average error account is not part ofthe study 3.3 Network strategies There ... strategy The purpose of this study is to determine the efficiency impact of these various network strategies Due to the lack of existing research on the issues of efficiency of clearing and network strategies, ... reduce the complexity of back -of ce processes Due to the complexity of measuring and quantifying the savings from the reductions in back -of ce costs, these savings are not analysed in the context of...